Dear Freelancer,
This blog is dedicated to you. Hats off to you! You are living your dream and charting the course of your own destiny. However, we know that it’s not easy. There is pressure to consistently drum up work to make sure that you have a steady flow of income. The struggle is real and we feel your pain!
How can you reduce your stress levels and bring some stability to your money situation? Save, save and save some more. Now we realize that this is easier said than done – and that’s where Wizely, has your back!
There will be good months and bad months. But the key is to build some sort of nest egg that will tide you over in the bad months. Increasing the amount you save in the good months will give you stability during the lean periods.
Here is how Wizely can be the perfect partner to help you on your financial journey.
Consider Wizely to be your digital money manager or your financial personal trainer who will be working in unison with you to help you reach your goals without judging you. Wizely will motivate you when you slack and encourage you to reach your milestones.
You can also enjoy multiple benefits based on your saving achievements like scratch cards and Extra Value!
Here are some overall tips to ensure that you are on the right path when it comes to all things money and saving related:
1. Set a Budget
It is important to understand what your monthly expenses are and how you can cut back. Some expenses will be fixed whilst others maybe discretionary. Trying to maintain a balanced lifestyle when there is no fixed income is a challenge and this can only be done by cutting back and being conscious of every penny that you spend.
2. Resist the Urge to Splurge During Good Months and Instead Increase the Percentage That You Save
We all work hard for our money and the temptation always exists to go out and splurge. However, try and save for a rainy day and use all the extra money during the good months to bulk up your nest egg.
3. Plan in Advance for Your Big Purchases
Sometimes we need to make big-ticket purchases. Cash flow can get seriously impacted if we don’t plan in advance how we are going to fund these big-ticket items. On the Wizely app, you can start saving by creating a specific goal – e.g planning a holiday or buying a new fridge. This gives you the motivation to keep at it even when you feel you can’t.
4. Be Diligent About Taxes
Have a good chartered accountant and ensure that your books are always in order. This will ensure that at the end of the financial year, you are not overwhelmed.
We hope these tips are helpful when it comes to getting your financial ducks in a row. With a little tenacity and perseverance, you can definitely do it. We are here with you, every step of the way!
Your friend,
Wizely :)
